Thompson Thrift Commercial announces the sale of Sonoran Creek Marketplace near Phoenix
PHOENIX, June 1, 2022 /PRNewswire/ — Thompson Thrift Commercial, a wholly owned company of Indianapolis-based in Thompson Thrift, today announced the sale of Sonoran Creek Marketplace, a 75,000 square foot shopping center anchored by Sprouts in the Phoenix suburb of maricope. The property was purchased by a private Pacific Northwest buyer for an undisclosed amount.
“Sonoran Creek Marketplace is a development that our entire team is very proud of,” said Chris Hake, Senior Vice President and Southwest Region Manager for Thompson Thrift Commercial. “We began this development in the early stages of the pandemic, and today’s close is the culmination of years of hard work by our internal team, various consultants, and Phoenix business advisors. special thanks also goes to by Maricopa mayor, city manager and city council who contributed to the realization of this project.
Sonoran Creek Marketplace is located on approximately 14 acres at the southwest corner of John Wayne Parkway and Edison Road. The first phase opened in August 2021 and included Sprouts Farmers Market, Cold Beer & Cheeseburgers, MOD Pizza, Pet Planet, Crumbl Cookies and several other national and regional users. The second phase is currently under construction and will add Marshall’s, NextCare Urgent Care and Thai Chili to the center. Thompson Thrift will continue to manage construction until the property is completed later this year.
Thirty Rustan of Commercial Properties represented the buyer, and Thompson Thrift worked with Phoenix Commercial Advisors on the acquisition, lease and disposition of the property.
Thompson Thrift Commercial is a full-service real estate development company focused on commercial and mixed-use development in the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, Thompson Thrift has invested more than $3.7 billion in local communities and has established itself as a trusted partner committed to developing attractive, high-quality projects.
This was the company’s first development in maricopebut the company is actively seeking other opportunities in the city to add to its $750 million pipeline of development projects across the Phoenix subway.
About Thompson Thrift Realty Company
Thompson Thrift is an integrated, full-service real estate company with offices in Indianapolis and Terre Haute, Indiana, Houston and Phoenix. Three business units drive Thompson Thrift’s success: Thompson Thrift Residential, which focuses on high-end Class A multi-family communities and luxury rental homes, Thompson Thrift Commercial, which focuses on commercial development in from scratch, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of the acquisition, development, construction, leasing and management of multi-family, mixed-use, commercial, industrial and commercial projects in quality across the country. We are passionate about the success of our clients and strive to ensure that our projects meet not only the needs of our clients, but also the communities we serve. For more information, visit www.thompsonthrift.com
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